Aussie radio man tipped to replace Weldon as MediaWorks boss
Turnaround challenge for new chief executive. With special feature audio.
Sydneysider Michael Anderson is being tipped for the MediaWorks chief executive role vacated by Mark Weldon on May 4.
The AFR's Rear Window column says an announcement is just days away.
Mr Anderson is a professional director, sitting on the boards of Fairfax, audience measurement company OzTam and outdoor and mobile advertising company oOh Media.
But he is best-known for his 20-year stint as a chief executive with Australian radio group Austereo, the last eight of which he served as chief executive. He quit in 2010, shortly before a takeover by rival Southern Cross to form Southern Cross Austereo. While at Austero, Mr Anderson was credited with an industry-first move to digital broadcasting.
A Fairfax spokesman told AFR the situation was "a matter for Michael and for MediaWorks. If it transpires, we wish Michael all the best."
Mr Anderson is expected to quit the board of Fairfax and his chairmanship of oOh if he takes the role.
Mark Weldon quit in early May amid reports of low morale, new limits placed on his power by MediaWorks' private equity owner Oaktree Capital, and the complications of the (then) pending Ralec vs NZX case, in which he is a co-defendant.
MediaWorks CFO David Chalmers has been acting chief executive since Mr Weldon's departure.
The new CEO will have to turn around an operation that recently reported a 50% drop in pre-tax earnings.
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Aussie radio man tipped to replace Weldon as MediaWorks boss
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